Marathon Digital (NASDAQ:MARA) Stock Price Down 0.8%

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price traded down 0.8% during mid-day trading on Monday . The company traded as low as $19.96 and last traded at $20.00. 14,049,178 shares were traded during mid-day trading, a decline of 78% from the average session volume of 62,801,602 shares. The stock had previously closed at $20.17.

Wall Street Analyst Weigh In

MARA has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a research note on Friday, May 10th. StockNews.com downgraded shares of Marathon Digital from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Chardan Capital reduced their price target on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.33.

Marathon Digital Trading Down 0.7 %

The company has a quick ratio of 23.07, a current ratio of 23.07 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $19.94 and a 200 day moving average price of $20.72. The stock has a market capitalization of $5.34 billion, a PE ratio of 8.79 and a beta of 5.56.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The company had revenue of $165.20 million during the quarter, compared to analysts’ expectations of $193.89 million. Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. Equities analysts expect that Marathon Digital Holdings, Inc. will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Marathon Digital news, Director Said Ouissal sold 10,217 shares of Marathon Digital stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total transaction of $209,448.50. Following the transaction, the director now owns 60,046 shares of the company’s stock, valued at approximately $1,230,943. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds have recently made changes to their positions in MARA. Vanguard Group Inc. increased its position in Marathon Digital by 5.7% in the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock worth $157,447,000 after buying an additional 1,000,225 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Marathon Digital by 29.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock valued at $42,840,000 after acquiring an additional 410,146 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Marathon Digital by 29.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock valued at $30,429,000 after acquiring an additional 296,776 shares during the period. Vima LLC purchased a new stake in Marathon Digital during the fourth quarter valued at about $949,000. Finally, Virtu Financial LLC bought a new position in Marathon Digital during the fourth quarter worth about $1,629,000. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.